PayIt announces $100M+ funding round from single investor
March 28, 2019 | Austin Barnes
Simplifying government services through tech just got easier for Kansas City-based startup PayIt. All thanks to a funding round of more than $100 million, the company announced Thursday.
UPDATED: ‘Transformative’ $100M+ investment for PayIt means KC GovTech startup will boost hiring
PayIt — named one of Startland’s 10 Kansas City Startups to Watch in 2018 — received the funding from a single investor, New York City-based, Insight Partners, Techcrunch reported.
The startup — which had previously raised $11 million — will use the money to expand its services into various government sectors and international markets, the digital tech magazine said.
Specializing in govtech/fintech applications that better connect government to its constituents, PayIt made news in 2018 thanks to major partnerships with the State of Kansas and the Unified Government of Kansas City, Kansas. But the biggest boast comes in terms of the startup’s headcount, PayIt CEO and co-founder John Thomson said.
Click here to read more about how PayIt is helping Kansas drivers skip the line at the DMV.
The company grew to 55 employees in 2018 from just under 30, Thomson detailed.
Startland will have more on this story as it develops.
Featured Business
2019 Startups to Watch
stats here
Related Posts on Startland News
Events Preview: Gigabit City Summit, Celebrate entrepreneurs
There are a plethora of entrepreneurial events hosted in Kansas City on a weekly basis. Whether you’re an entrepreneur, investor, supporter, or curious community member — we recommend these upcoming events for you. Are you hosting a relevant community event? Feel free to add it to the FWD/KC calendar for increased exposure. Once your event…
Rack Performance beefs up with seed investment from former Perceptive Software execs
Lenexa-based Rack Performance has raised a seed investment round that will fuel the exercise tech startup’s sales and development. Rack Performance has raised $300,000 from perceptiveEQUITY, a new early-stage investment firm that’s managed by three former executives at Lenexa-based Perceptive Software, which was purchased by Lexmark International for $280 million in 2010. Lexmark recently sold…
Six takeaways from the digital transformation at Hallmark
It’s not just tech startups that innovate and disrupt. One of the Kansas City area’s largest firms, Hallmark Cards, recently launched a digital transformation. In 2015, the greeting card giant funneled thousands of products that were popular on the shelves to online sales. The firm also updated its social media practices to attract younger customers.…
Report: Kansas City’s tech workforce is growing faster than most big cities
Techies around the nation have flocked to Kansas City at a rate faster than many major cities, including New York City, Chicago, San Diego and others according to a recent report. CBRE’s annual Tech Talent Report found that between 2011 and 2016 Kansas City’s tech workforce grew 39 percent, adding about 15,000 new tech staffers…